Absher Wealth Management LLC Purchases 3,708 Shares of Ralph Lauren Co. (NYSE:RL)

Absher Wealth Management LLC grew its position in Ralph Lauren Co. (NYSE:RL) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,494 shares of the textile maker’s stock after purchasing an additional 3,708 shares during the quarter. Ralph Lauren comprises approximately 3.8% of Absher Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Absher Wealth Management LLC’s holdings in Ralph Lauren were worth $29,370,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RL. Family Firm Inc. bought a new stake in shares of Ralph Lauren during the 2nd quarter worth $30,000. Gladius Capital Management LP bought a new stake in Ralph Lauren during the 2nd quarter worth $31,000. Versant Capital Management Inc raised its position in Ralph Lauren by 1,775.0% in the second quarter. Versant Capital Management Inc now owns 225 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 213 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Ralph Lauren during the first quarter valued at about $42,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ralph Lauren in the first quarter valued at approximately $63,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Down 1.2 %

Shares of RL traded down $2.44 during trading hours on Friday, hitting $195.49. The stock had a trading volume of 79,627 shares, compared to its average volume of 860,126. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.53. Ralph Lauren Co. has a 1-year low of $111.30 and a 1-year high of $207.06. The firm has a 50 day simple moving average of $187.86 and a 200-day simple moving average of $177.06. The firm has a market capitalization of $12.11 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $2.70 EPS for the quarter, topping the consensus estimate of $2.45 by $0.25. Ralph Lauren had a return on equity of 28.79% and a net margin of 10.27%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Ralph Lauren Co. will post 11.25 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.30 annualized dividend and a yield of 1.69%. Ralph Lauren’s dividend payout ratio is currently 31.82%.

Analyst Ratings Changes

Several research firms recently commented on RL. Barclays lifted their target price on shares of Ralph Lauren from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Guggenheim raised their target price on Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Telsey Advisory Group reiterated an “outperform” rating and issued a $207.00 price target on shares of Ralph Lauren in a research report on Thursday, September 26th. TD Cowen lifted their price objective on Ralph Lauren from $193.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, StockNews.com lowered shares of Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ralph Lauren currently has an average rating of “Moderate Buy” and a consensus price target of $194.36.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.